Japan Plans to Invest in Bangladesh’s Sugar Industry

Japan has shown interest in investing in the sugar industry of Bangladesh along with other sectors. 

The Bangladeshi Daily Star has reported that Japan plans to invest in several sectors of the country, including its sugar industry, biomass power generation and prepaid gas meter industry. 

The governor of Japan Bank for International Cooperation (JBIC), Nobumitsu Hayashi, expressed interest during a courtesy call to prime minister Sheikh Hasina at the latter’s official residence Gono Bhaban in Dhaka. 

Hayashi said JBIC is keen to provide loans to Japanese entrepreneurs for making investments in these particular sectors in Bangladesh. 

Hasina appreciated the offer saying that one or two out of the country’s 15 sugar mills can be made available to Japanese investors. She added a prepaid gas meter factory can be built under a joint venture. 

Prime Minister Sheikh Hasina talks with Japan Bank for International Cooperation (JBIC) Governor Hayashi Nobumitsu at Ganabhaban in the capital on February. 

The prime minister said Japan is a trusted partner of Bangladesh, adding that the people of Japan have been standing by Bangladesh since the Liberation War in 1971. 

“I am extending gratitude to Japan on behalf of Bangladeshi people, as Japan is still extending cooperation to us,” she said. 

She went on to say that Bangladesh is implementing several mega-projects with Japanese support, which include the Matarbari deep seaport, the Matarbari coal-fired power plant, the Third Terminal of the Hazrat Shahjalal International Airport in Dhaka, the Bangabandhu Rail Bridge over the Jamuna river and the Dhaka Metro Rail project. 

She said: “The existing bilateral relations between Bangladesh and Japan will be strengthened further in future.” 

The JBIC governor described Japan as Bangladesh’s development partner and vowed to contribute more to the country’s development journey.